Employment: Contractors Weekly Multiplier for Income Assessment

Our standard acceptability

48

Criteria definition:

Indicates how we assess contractor income which will either be on a self-employed basis or based on the contractor's day rate indicated by a weekly multiplier. For example 'Lender A' will calculate a contractor's income based on the weekly amount * 48 where '48' indicates the weekly multiplier and 'Lender B' will treat them as self-employed and income will be assessed in line with their self-employed policy. 

Policy Notes:

We can consider contractor workers who are self-employed (possibly via their own limited company) using a multiple of their weekly contract rate or simply taking their income via their accounts/SA302s.

Outside Notes:

Warning Notes:

Criteria categories :
  • employed applicants
  • employment
Criteria topics :

Last updated:

29 August 2018